Get Financially Fit For 2012 seminar at the American Arab Chamber of Commerce Wednesday, Dec. 7, was a great success, attracting about 30 small businesses and individuals.
The seminar was free to Chamber members.The AACC Small Business Development Committee organized the seminar as part of the Chamber's popular Small Business Bottom Line Series. The seminar included information about small business and SBA lending and tax laws changes in 2012.
"We're delighted that small businesses are able to attend and benefit from this informative seminar," said AACC Executive Director Fay Beydoun.John Lee, business banking relationship manager with Fifth Third Bank, discussed small business and SBA lending. He recommended that businesses have their documents ready to speed up the application process and to be aware of what lenders look for in a barrower: Capacity, capital, conditions, collateral and Character.
Ali Hijazi, CPA with Plante & Moran, discussed the new Michigan corporate income tax, how tax rate changes could affect the entity choice decision and bonus depreciation in 2011 and 2012. Hijazi is a member of the AACC Small Business Development Committee.
AACC Chairman Ahmad Chebbani, president/CEO of Omnex Accounting and Tax Services, recommended that businesses prepare for filing taxes before the end of the year and discuss their plans with their accountant.
The Chamber provides the seminars to its members and the community to keep small businesses informed and to help them make important financial decisions.
The AACC Small Business Development Committee helps AACC members increase business profitability, sustainability, build public awareness and promote the value and importance of small business through a number of activities and programs.
